Whenever it is necessary to establish the present worth or cash value of an annuity to a person, payable annually during the person's life, such present worth or cash value may be ascertained by the use of the following table in connection with the mortality tables established by law, the first column representing the number of years the annuity is to run and the second column representing the present cash value of an annuity of one dollar for such number of years, respectively: No. of Years Annuity Cash Value of the Annuity is to Run of $1 1 $ 0.943 2 1.833 3 2.673 4 3.465 5 4.212 6 4.917 7 5.582 8 6.210 9 6.802 10 7.360 11 7.887 12 8.384 13 8.853 14 9.295 15 9.712 16 10.106 17 10.477 18 10.828 19 11.158 20 11.470 21 11.764 22 12.042 23 12.303 24 12.550 25 12.783 26 13.003 27 13.211 28 13.406 29 13.591 30 13.765 31 13.929 32 14.084 33 14.230 34 14.368 35 14.498 36 14.621 37 14.737 38 14.846 39 14.949 40 15.046 41 15.138 42 15.225 43 15.306 44 15.383 45 15.456 46 15.524 47 15.589 48 15.650 49 15.708 50 15.762 51 15.813 52 15.861 53 15.907 54 15.950 55 15.991 56 16.029 57 16.065 58 16.099 59 16.131 60 16.161 61 16.190 62 16.217 63 16.242 64 16.266 65 16.289 66 16.310 67 16.331 The present cash value of the annuity for a fraction of a year may be ascertained as follows: Multiply the difference between the cash value of the annuities for the preceding and succeeding full years by the fraction of the year in decimals and add the sum to the present cash value for the preceding full year. When a person is entitled to the use of a sum of money for life, or for a given time, the interest thereon for one year, computed at four and one half percent (4 1/2%), may be considered as an annuity and the present cash value be ascertained as herein provided: Provided, the interest rate in computing the present cash value of a life interest in land shall be six percent (6%). Whenever the mortality tables set out in G.S. 8-46 are admissible in evidence in any action or proceeding to establish the expectancy of continued life of any person from any period of the person's life, whether the person is living at the time or not, the annuity tables herein set forth shall be evidence, but not conclusive, of the loss of income during the period of life expectancy of the person. (1905, c. 347; Rev., s. 1627; C.S., s. 1791; 1927, c. 215; 1943, c. 543; 1957, c. 497; 1959, c. 879, s. 3; 1965, c. 991; 1997-133, s. 2.) Article 6. Calendars.
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